Reasons Why You Should Rent Instead of Buy

Should-I-Rent-Or-Lease-An-Apartment-Accountants

Have you looked around lately?  I have. And you know what I see? Tons of apartment communities being built. Camden itself is bursting with new construction in places like Los Angeles and Texas. It’s a renter’s paradise out there and apartments are becoming the way of the future.

It can be said that most of the population, at some point, wants to own their own home. I mean it is the American Dream, right? Mowing the lawn on Saturdays, picking out a new color for the front door, watching your dog run free in the back yard. There is also this enormous sense of pride and it’s a great investment in the majority of cases. But hold the phone…since when was that the only American Dream?  Can’t renting just be another version of it? As a matter of fact, there are beau coups of perks to renting over buying.

Maintenance – It’s the middle of August. You live in the south. It’s 11 p.m. at night. Boom. Your AC stops working. In a home, you can’t call anyone until the morning and you suffer through the night. At an apartment community, the maintenance teams are on call 24/7. That’s right. 24/7. You can call at 11 pm. and more than likely you will be cool in no time. And wait for it…it’s free. You don’t have to pay a penny.

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Photo : Camden Roosevelt, Washington, D.C.

Built-in Amenities – If you can dream it, somewhere there is an apartment community with an amazing amenity you would not find in a housing neighborhood. From rooftop pools to movie theaters to 24 hour concierge service and wine cellars (yes, that is a thing – just check out Camden Roosevelt in D.C.) you could have it all and more often than not, it’s included.

Ability to Leave – When you want to move, you give a notice. You don’t have to wait to sell or worry about a sellers market and if you are going to get what you want from a buyer. You more than likely even have break lease policies that will let you out of your lease early in case something sudden pops up and it becomes time to move.

No Taxes – Those icky and expensive property taxes are non-existent. It’s not even built into your rent like it is with mortgages most of the time.

Protection – A lot of communities these days have alarm systems, courtesy officers, on-site security, cameras, etc to safeguard their residents. This is usually free of charge. There are some things you may have to pay for but normally the cost is minimal compared to the cost of securing a home and outfitting it with monitored protection.

Photo : Camden Lake Pine, Apex, NC

Photo : Camden Lake Pine, Apex, NC

 Landscaping – Just because it’s not your home doesn’t mean you can’t have a beautiful yard, gorgeous flowers to look at or even ponds with fountains. You can have all of this and the best part is that you don’t have to keep it up yourself. Landscapers will prune the bushes and flowers, arborists will trim the trees and garden gnomes will tend to the rest. You can also keep flowers on your patio or balcony if your green thumb just won’t let you give in.

Photo Courtesy : www.gomadison.com

Photo Courtesy : http://www.gomadison.com

Inclusions – A lot of times you will have things built into your final rent price. Things like Valet Waste (door to door trash pick-up), Cable, Internet or all three! Sometimes even more. This saves a ton of money because you get these at discounted prices as it is shared with everyone. It’s awesome.

Photo Courtesy : www.stopdebt.com

Photo Courtesy : http://www.stopdebt.com

 No Debt – Look at renting as a way of not owing anyone hundreds of thousands of dollars. You certainly don’t know what lies ahead and owing that much if circumstances change can take a toll on you.

Now this of course is not knocking those who love their homes and who are mid-offer right this minute. Renting is typically perceived as bad but there are a lot great things that come from renting and that tends to be overlooked at times. Keep all of these things in mind next time you are thinking about buying. Think about where you are at in life and determine if renting suits you better at the moment. It just may.

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